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Anna-Self-Storage
AcquisitionsIndustrialLoansSelf-StorageTexas

HPI Real Estate Buys 840-Unit Self-Storage Facility in Anna, Texas

by Taylor Williams

ANNA, TEXAS — Texas-based investment firm HPI Real Estate has purchased an 840-unit self-storage facility in Anna, about 45 miles north of Dallas. Anna Self Storage was completed in 2023 and totals 103,000 net rentable square feet of climate-controlled space. Casey Wenzel, John Bauman and Luke Rogers of JLL arranged a five-year, floating-rate acquisition loan through Security National Bank on behalf of HPI Real Estate. Anna Self Storage was approximately 30 percent occupied at the time of the loan closing. Life Storage operates the property.

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HospitalityLoansTexas

Lone Star PACE Provides $31M in C-PACE Financing for Houston Hotel

by Taylor Williams

HOUSTON — Lone Star PACE has provided $31 million in C-PACE financing for The Thompson, a 172-room hotel located within The Allen mixed-use development near downtown Houston. The hotel includes 34 suites and multiple onsite food-and-beverage concepts. Locally based developer DC Partners owns The Allen. Lone Star PACE partnered with lender Nuveen Green Capital to administer the financing. C-PACE (commercial property-assessed clean energy) financing allows commercial borrowers to obtain favorable loan terms in exchange for implementing eco-friendly devices and initiatives at their properties.

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Fairwinds-Rio-Ranch-NM
LoansMultifamilyNew MexicoSeniors HousingWestern

JLL Arranges Refinancing for 220-Unit Seniors Housing Property in Rio Rancho, New Mexico

by Amy Works

RIO RANCHO, N.M. — JLL Capital Markets has arranged a refinancing for Fairwinds Rio Rancho, a three-story, 220-unit independent living and assisted living community located in Rio Rancho, a suburb north of Albuquerque. JLL represented the borrower, Lytle Enterprises, and secured the five-year, fixed-rate loan through a life insurance company. The amount of the loan was not disclosed. Fairwinds Rio Rancho totals 211,213 square feet. It was built in 1997 and renovated in 2019. Alanna Ellis, Jay Wagner, Aaron Rosenzweig and Alex Sheaffer led the JLL team.

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LoansMultifamilyNew JerseyNortheast

HKS Real Estate Arranges $46.5M CMBS Refinancing for Northern New Jersey Multifamily Property

by Taylor Williams

PARAMUS, N.J. — HKS Real Estate Advisors has arranged a $46.5 million CMBS loan for the refinancing of a 140-unit multifamily property located in the Northern New Jersey community of Paramus. The newly built property consists of three buildings on a 35-acre site. According to Apartments.com, the property is named Soldier Hill Commons and exclusively houses two-bedroom units. John Harrington of HKS Real Estate arranged the loan through Citigroup on behalf of the undisclosed borrower.

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GeorgiaLoansMultifamilySoutheast

BWE Arranges $35M Refinancing of Sedgefield Apartments in Marietta, Georgia

by John Nelson

MARIETTA, GA. — BWE has arranged a $35 million bridge loan for the refinancing of Sedgefield Apartments, a 280-unit multifamily community located at 1136 W. Commons Lane in Marietta, a northwest suburb of Atlanta. Alan Tapie, Thomas Wiedeman, Brad Walker and Hanley Long of BWE arranged the interest-only loan on behalf of the borrower, RPM Living. Sedgefield Apartments features one-, two- and three-bedroom floor plans, as well as a fitness center, playground, green space, swimming pool, laundry facility and a grilling area.

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AcquisitionsAffordable HousingDevelopmentDistrict of ColumbiaLoansMultifamilySoutheast

NewPoint-Sponsored Fund Provides $13.3M Bond Financing for Affordable Housing Rehab in Southeast D.C.

by John Nelson

WASHINGTON, D.C. — NewPoint Real Estate Capital’s NewPoint Impact Fund I has provided $13.3 million in 501(c)(3) bond financing for Ridgecrest Apartments Phase II, a 128-unit affordable housing community in southeast Washington, D.C.’s Anacostia submarket. The New York-based borrower, The NHP Foundation, will use the funds to acquire, rehabilitate and recapitalize the community. Bryan Dickson of NewPoint arranged and structured the tax-exempt construction-to-permanent phased bond financing. Other capital partners in the development include DC Green Bank, the Office of the Deputy Mayor for Planning and Economic Development, DC Department of Housing and Community Development (DCHD) and the District of Columbia Housing Authority. The new financing will be combined with $29.2 million in soft debt and grants from the DCHD. Ridgecrest Phase II was previously operated as part of the larger Ridgecrest Village, a 1951-built development that NHPF purchased in 2019. After recapitalization, 20 percent of the Phase II units will be restricted at 30 percent of the area median income (AMI) to serve as permanent supportive housing. The remaining 80 percent of units will be restricted at 50, 60 and 80 percent of AMI. The garden-style apartment community features a mix of two- and three-bedroom units ranging in size from …

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Village-at-Mayfair-New-Braunfels
Build-to-RentLoansSingle-Family RentalTexas

Tower Capital Originates $47.4M Construction Loan for Build-to-Rent Project Near San Antonio

by Taylor Williams

NEW BRAUNFELS, TEXAS — Tower Capital, an Arizona-based boutique advisory firm, has originated a $47.4 million construction loan for Village at Mayfair, a 217-unit build-to-rent residential project that will be located in the northeastern San Antonio suburb of New Braunfels. The project’s 20-acre site will be part of the 1,900-acre Mayfair master-planned community. The cottage-style homes will have an average size of 1,023 square feet and will include private patios/yards. Amenities will include a pool, fitness center, outdoor grilling and dining stations and a clubhouse. The borrower is Arizona-based Empire Group of Cos. Construction will begin in the coming weeks, and the first homes are expected to be available for occupancy in the third quarter of 2025.

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3000-Quarry-Road-West-Rockhill-Pennsylvania
DevelopmentIndustrialLoansNortheastPennsylvania

JLL Arranges Financing for 330,000 SF Industrial Project in West Rockhill, Pennsylvania

by Taylor Williams

WEST ROCKHILL, PA. — JLL has arranged an undisclosed amount of construction financing and joint venture equity for a 330,000-square-foot industrial project in West Rockhill, located roughly midway between Philadelphia and Allentown. The building will be situated on a 29.6-acre site and feature 36-foot clear heights, 85 loading positions and parking for 280 cars and 76 trailers. Jon Mikula, John Plower, Ryan Cottone and Michael Lachs of JLL worked on behalf of the developer, J.G. Petrucci, to arrange the loan with Provident Bank and structure the joint venture with Boston-based Cabot Properties.

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Affordable HousingIllinoisLoansMidwestMultifamilySeniors Housing

Berkadia Arranges $17.6M in LIHTC Financing for Affordable Seniors Housing Property in Harvey, Illinois

by Kristin Harlow

HARVEY, ILL. — Berkadia has arranged a $17.6 million Low-Income Housing Tax Credit (LIHTC) equity investment for the preservation of Jesse Jackson Jr. Senior Housing in Harvey, a southern suburb of Chicago. The 120-unit affordable seniors housing property consists of two three-story buildings that were originally constructed in 2007 and 2011. The one-bedroom units are designated for seniors age 62 and above, with 114 of them set aside for those whose income is at or below 50 percent of the area median income. The remaining six units are for persons with disabilities whose income is at or below 30 percent AMI as part of the Illinois Housing Development Authority’s Statewide Referral Network program. The renovation project will include new roofing, windows, flooring, kitchen appliances, kitchen and bathroom plumbing fixtures, intercom system, nurse call system, smoke detectors, fire extinguishers and new paint. The renovation will also include the installation of solar panels and will receive Renewable Energy Investment Tax Credits under Section 48 of the U.S. Internal Revenue Code. Brian Blanchard and James Grande of Berkadia arranged the financing on behalf of the sponsor, Preservation of Affordable Housing.

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DevelopmentFloridaIndustrialLoansSoutheast

BGFP International Obtains $72M Construction Financing for Cold Storage Development in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — BGFP International, a partnership between BG Capital, Saoud Development and FreezPak Logistics, has secured $72 million in construction financing to develop a 275,000-square-foot cold storage facility in Jacksonville. The capital providers include senior lenders Valley National Bank and the Israel Discount Bank of New York (IDB), as well as Nuveen Green Capital, which provided Commercial Property-Assessed Clean Energy (C-PACE) financing. Tyler Huffman and Joseph Byrne of BG Capital originated the debt execution on behalf of BGFP International. Construction is underway and expected to be completed in November. FreezPak Logistics will lease the entirety of the complex, which will feature 212,000 square feet of freezer space and a 41,000-square-foot cooler dock. Situated on 20 acres, the property will offer 53,000 new pallet positions, 34 loading docks, 132 trailer parking stalls, 90 container plug-ins and clear heights of 67 feet. The new Jacksonville facility will represent the third build-to-suit facility for BGFP International, joining developments in Philadelphia and Houston.

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